By TOM HAYS and LARRY NEUMEISTER
Associated Press Writers
NEW YORK (AP) -- U.S. District Judge Denny Chin says the federal probation department recommends that Bernard Madoff get 50 years in prison for a multibillion-dollar fraud scheme.
Madoff's lawyer has asked a judge to give his 71-year-old client 12 years behind bars. Prosecutors planned to seek a 150-year prison term Monday.
The former Nasdaq chairman was arrested late last year after confessing to his sons that his secretive investment advisory business was a "big lie."
He pleaded guilty to securities fraud and other charges in March and has been jailed ever since.
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